Point72 Asset Management L.P. Acquires New Holdings in Southwest Airlines Co (NYSE:LUV)

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Point72 Asset Management L.P. acquired a new stake in Southwest Airlines Co (NYSE:LUV) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,616 shares of the airline’s stock, valued at approximately $1,708,000.

A number of other hedge funds also recently made changes to their positions in LUV. Advisor Partners LLC grew its stake in shares of Southwest Airlines by 7.4% in the 2nd quarter. Advisor Partners LLC now owns 15,303 shares of the airline’s stock valued at $777,000 after buying an additional 1,056 shares during the period. Grimes & Company Inc. grew its position in Southwest Airlines by 9.2% in the 2nd quarter. Grimes & Company Inc. now owns 142,611 shares of the airline’s stock valued at $7,242,000 after purchasing an additional 12,068 shares during the period. Little House Capital LLC acquired a new stake in Southwest Airlines in the 2nd quarter valued at $5,703,000. Stifel Financial Corp increased its stake in Southwest Airlines by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 369,259 shares of the airline’s stock valued at $19,965,000 after purchasing an additional 5,881 shares in the last quarter. Finally, Ledyard National Bank raised its holdings in Southwest Airlines by 2.4% during the third quarter. Ledyard National Bank now owns 104,256 shares of the airline’s stock worth $5,630,000 after buying an additional 2,440 shares during the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

A number of research firms have weighed in on LUV. Bank of America raised shares of Southwest Airlines to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, September 23rd. Tigress Financial restated a “buy” rating on shares of Southwest Airlines in a report on Thursday, September 26th. Macquarie raised shares of Southwest Airlines from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Friday, September 13th. Morgan Stanley lifted their price target on Southwest Airlines from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $58.58.

Shares of NYSE:LUV opened at $55.93 on Wednesday. The firm has a fifty day moving average price of $56.53 and a two-hundred day moving average price of $53.10. Southwest Airlines Co has a one year low of $44.28 and a one year high of $58.77. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.65 and a quick ratio of 0.59.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, October 24th. The airline reported $1.23 EPS for the quarter, topping the consensus estimate of $1.08 by $0.15. Southwest Airlines had a net margin of 10.90% and a return on equity of 24.71%. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Southwest Airlines Co will post 4.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, December 10th. Southwest Airlines’s dividend payout ratio (DPR) is presently 16.98%.

Southwest Airlines Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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